KUALA LUMPUR, March 24 – Xiaomi Corporation (“Xiaomi” or the “Group”; stock code:1810) unveiled its audited consolidated results for the year ended December 31, 2023, showcasing robust financial performance across its business segments. With total revenue reaching RMB271.0 billion, Xiaomi reported a staggering 126.3% surge in adjusted net profit, amounting to RMB19.3 billion (approx. RM12.7 billion). Notably, the Group’s fourth-quarter results demonstrated consecutive revenue growth, hitting RMB73.2 billion (approx. RM48.19 billion), a 10.9% increase YoY, and an adjusted net profit of RMB4.9 billion (approx. RM3.2 billion), marking a 236.1% YoY surge.
Throughout 2023, Xiaomi executed its “dual emphasis on scale and profitability” strategy while bolstering its corporate ecosystem with the “Human × Car × Home” smart ecosystem. With significant strides in smartphone shipments and a notable foray into premiumization, Xiaomi strengthened its global position, maintaining a solid foothold across various markets. Moreover, the Group’s IoT and lifestyle products witnessed substantial growth, with revenue hitting RMB80.1 billion (approx. RM52.7 billion), setting a new record high. As Xiaomi unveils its ambitious goals for 2020–2030 and introduces innovative EV products, the Group solidifies its commitment to pioneering advancements in cutting-edge technologies on a global scale.
